'Philadelphia Fed President Patrick Harker suggests interest rate hikes are at an end' -CNBC
Portfolio Pulse from Benzinga Newsdesk
Philadelphia Fed President Patrick Harker has suggested that interest rate hikes may have come to an end, according to a CNBC report. This could potentially impact the broader market and ETFs like SPY.
August 08, 2023 | 12:19 pm
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The end of interest rate hikes as suggested by Philadelphia Fed President Patrick Harker could potentially impact SPY, as it tracks the broader market.
Interest rates have a significant impact on the stock market. When interest rates are high, borrowing costs increase, which can slow economic growth and lead to lower stock prices. Conversely, when interest rates are low or stop increasing, it can stimulate economic growth and lead to higher stock prices. As SPY tracks the broader market, any changes in the market due to interest rate decisions could impact its price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75